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Real Estate Firm Lists The Bahamas’ Most Expensive Single-Family Residence, a $39.5 Million Showpiece in Old Fort Bay

Mon, Jun 12th 2023, 02:18 PM

One month to the day after marketing and sales specialist Matt Marco announced his relationship with Bond Bahamas, a real estate firm he predicted would “transcend the transaction,” he quietly confirmed the firm had just exclusively listed the single most expensive single-family residence in The Bahamas today, an 8-bed, 13-bath oceanfront property in the exclusive enclave of Old Fort Bay.  

“It’s been an amazing start and a great welcome to the market,” said Marco, whose extensive property owners’ rolodex built over decades of being in the development business gave him a head start when he launched with a focus on the high net worth market.  

“We’ve been able to build an incredible team in a short period,” he noted. And an impressive book of listings, he might have added, including the current crown jewel of the residential market, Apsara.  

The 14,000+ square foot oceanfront residence with high elevation and clean, contemporary lines hugs the Atlantic coastline on the north with 150 feet of frontage and graces another 150 feet on the canal with full boat dock and lifts.  

Among the features – a wall of 876 bottles in a temperature-controlled glass enclosure wine cellar that sets off a dining space for the kind of parties where memories linger long after the cognac lies deserted on the table and the tales of the night not yet turned into the stories that would be told years later.  

“Apsara is a rare beauty that is as inviting as it is show worthy,” said Marco. “Every time you walk through, you see another detail that you had not noticed before including the oversized loggias designed for seamless indoor-outdoor living. She truly lives up to her name which in Indian mythology means angels of dance and song.”  

There’s an infinity edge pool, fitness center, prized koi pond, outdoor steam room, chef’s kitchen, commercial grade elevator, staff suites. The dock with lift and storage is large enough for a boat house.  

“The property alone, just under and an acre in Old Fort Bay with water on both sides, is like a private oasis. Add a house like this equipping it with the finest of everything, you are shopping it to the top one percent of the world market,” said Marco.  

It’s a market he knows well. Marco travels to the high net worth corners of the globe like the rest of us trek to the food store, regularly. He’s as comfortable in a foreign land as he is at a local wine bar or conch stand. To ask him about frequent flier miles would be like prying into his financial status.  

“People used to say the three magic words in real estate are location, location, location. That may have been true a decade ago but today the three magic words are contacts, contacts, contacts. Our properties are here but for the most part our clients are out there.”   

And what continues to attract them to the Bahamas – the same things that always have and hold true through the most challenging of times, Marco believes. 

“The Bahamas has it all – the warmth, the people, sophisticated communications, banking and asset management capability, tax-friendly environment, a living democracy and the most beautiful waters in the world”. He continues to work with well-known developer Aristo and its president Jason Kinsale on sales of oceanfront condos like Aqualina nearing completion on Cable Beach but today he is making his mark building a team that now stands at nearly a dozen inspired by a leader who believes the world of real estate is changing and the role of property advisor that gets a listing like this nearly $40 million gem in Nassau is the future.  

Fully-equipped personal gym and fitness center is one of the features that makes the eight bedroom, 13 bath Aspara in Old Fort Bay, just listed by Bond, the most expensive single family residence on the Bahamas market today. 

One month to the day after marketing and sales specialist Matt Marco announced his relationship with Bond Bahamas, a real estate firm he predicted would “transcend the transaction,” he quietly confirmed the firm had just exclusively listed the single most expensive single-family residence in The Bahamas today, an 8-bed, 13-bath oceanfront property in the exclusive enclave of Old Fort Bay.   “It’s been an amazing start and a great welcome to the market,” said Marco, whose extensive property owners’ rolodex built over decades of being in the development business gave him a head start when he launched with a focus on the high net worth market.   “We’ve been able to build an incredible team in a short period,” he noted. And an impressive book of listings, he might have added, including the current crown jewel of the residential market, Apsara.   The 14,000+ square foot oceanfront residence with high elevation and clean, contemporary lines hugs the Atlantic coastline on the north with 150 feet of frontage and graces another 150 feet on the canal with full boat dock and lifts.   Among the features – a wall of 876 bottles in a temperature-controlled glass enclosure wine cellar that sets off a dining space for the kind of parties where memories linger long after the cognac lies deserted on the table and the tales of the night not yet turned into the stories that would be told years later.   “Apsara is a rare beauty that is as inviting as it is show worthy,” said Marco. “Every time you walk through, you see another detail that you had not noticed before including the oversized loggias designed for seamless indoor-outdoor living. She truly lives up to her name which in Indian mythology means angels of dance and song.”   There’s an infinity edge pool, fitness center, prized koi pond, outdoor steam room, chef’s kitchen, commercial grade elevator, staff suites. The dock with lift and storage is large enough for a boat house.   “The property alone, just under and an acre in Old Fort Bay with water on both sides, is like a private oasis. Add a house like this equipping it with the finest of everything, you are shopping it to the top one percent of the world market,” said Marco.   It’s a market he knows well. Marco travels to the high net worth corners of the globe like the rest of us trek to the food store, regularly. He’s as comfortable in a foreign land as he is at a local wine bar or conch stand. To ask him about frequent flier miles would be like prying into his financial status.   “People used to say the three magic words in real estate are location, location, location. That may have been true a decade ago but today the three magic words are contacts, contacts, contacts. Our properties are here but for the most part our clients are out there.”    And what continues to attract them to the Bahamas – the same things that always have and hold true through the most challenging of times, Marco believes.  “The Bahamas has it all – the warmth, the people, sophisticated communications, banking and asset management capability, tax-friendly environment, a living democracy and the most beautiful waters in the world”. He continues to work with well-known developer Aristo and its president Jason Kinsale on sales of oceanfront condos like Aqualina nearing completion on Cable Beach but today he is making his mark building a team that now stands at nearly a dozen inspired by a leader who believes the world of real estate is changing and the role of property advisor that gets a listing like this nearly $40 million gem in Nassau is the future.   Fully-equipped personal gym and fitness center is one of the features that makes the eight bedroom, 13 bath Aspara in Old Fort Bay, just listed by Bond, the most expensive single family residence on the Bahamas market today. 

Urban Renewal small home repairs to continue ahead of upcoming hurricane season

Tue, May 2nd 2023, 09:53 AM

Deputy Director of Urban Renewal Northern Bahamas, Senator the Hon. Kirkland Russell, during a press conference on Monday, May 1, 2023 said the Small Home Repairs programme will continue with teams on the ground as early as this week.

With May designated Disaster Preparedness Month, Senator Russell added that teams will aggressively address the issues while giving priority to seniors and those living with disabilities.

Although the programme was launched last year, the programme had to be revisited due to the high demand for repairs, he said.

“We are fully aware that many Grand Bahama and Abaco residents are still suffering from hurricane damages and the government is committed to providing the relief that was promised.  I’m talking about from West Grand Bahama to East Grand Bahama, from North Abaco to Moore’s Island.

Simultaneously, we are also continuing with our response in Bimini.

“I would like to assure the people that Urban is committed to assisting the residents of those respective islands. As I have said, we will accelerate our efforts to assist those in need and in the shortest possible time.”

According to Senator Russell, teams have been throughout Grand Bahama, Abaco and Bimini to assess homes. They have now compiled a list of contractors and craftsmen from those areas who will conduct the repairs.

Those requesting assistance may still apply at the Urban Commission on Queen’s Highway, by calling 352-6166 or visiting their Urban Renewal Office in their area.

Deputy Director of Urban Renewal Northern Bahamas, Senator the Hon. Kirkland Russell, during a press conference on Monday, May 1, 2023 said the Small Home Repairs programme will continue with teams on the ground as early as this week. With May designated Disaster Preparedness Month, Senator Russell added that teams will aggressively address the issues while giving priority to seniors and those living with disabilities. Although the programme was launched last year, the programme had to be revisited due to the high demand for repairs, he said. “We are fully aware that many Grand Bahama and Abaco residents are still suffering from hurricane damages and the government is committed to providing the relief that was promised.  I’m talking about from West Grand Bahama to East Grand Bahama, from North Abaco to Moore’s Island. Simultaneously, we are also continuing with our response in Bimini. “I would like to assure the people that Urban is committed to assisting the residents of those respective islands. As I have said, we will accelerate our efforts to assist those in need and in the shortest possible time.” According to Senator Russell, teams have been throughout Grand Bahama, Abaco and Bimini to assess homes. They have now compiled a list of contractors and craftsmen from those areas who will conduct the repairs. Those requesting assistance may still apply at the Urban Commission on Queen’s Highway, by calling 352-6166 or visiting their Urban Renewal Office in their area.

Rick Fox's sustainable construction firm to deliver 30 homes to Abaco

Wed, Mar 22nd 2023, 08:21 AM

Sustainable construction firm Partanna will deliver 30 affordable homes made with its carbon negative concrete to South Abaco this year, its principal Rick Fox said yesterday.

The company has also began the development of a manufacturing plant at Arawak Cay to ensure it delivers on its pledge to government.

"The vision has really been just to take our technology to the communities that are on the front line of climate change, which are us. So right now we have partnered here in The Bahamas with the government to deliver 1,000 affordable homes. That includes homes in Abaco, an island that was nearly destroyed by Hurricane Dorian back in 2019," Fox told the Caribbean Climate-Smart Accelerator (CCSA) virtual Investor Forum yesterday.

"We are setting up a manufacturing facility at the port in Nassau this year that will answer that need. But also, we are looking at other countries in the region. We want to be able to address the acute affordable housing shortage that is out there, and then we are thinking about where we can set up factories also in the region. Then next, to act on the wholesale level to the local construction market."

Last November, the government signed a memorandum of understanding (MOU) with Partanna for the construction of up to 1,000 green homes over the next three years, using a pioneering green technology building material that removes carbon dioxide from the atmosphere.

"We launched the business to the world at COP27 [2022 United Nations Climate Change

Conference] in November and announced our partnership with the government of The Bahamas to produce these thousand homes. Under the terms of the partnership, we are setting up manufacturing and storage facilities in Nassau that really have the capacity to deliver that need. This year alone we are going to deliver 30 homes in southern Abaco," Fox told the forum.

"We are extremely proud to be working with The Bahamas and especially grateful to Prime Minister Davis, because of his leadership at COP26, when he called the world to change and be accountable to the impact they've been driving to our shores. At COP27 we had the ability to make this announcement and we hope in COP28 we're standing as an example of what is possible."

Fox said while the company is looking to eventually offer its green building solution to the rest of the world, right now it is focused on the Caribbean region, which is on the front line of climate disasters.

"There's more urgency, there's more desperation for survival at play and those that feel they have time to discuss whether climate change is upon us and if solutions are needed, they obviously aren't feeling the yearly impact that we feel, or the day-to-day impact that we feel," he said.

"So the fact that current leaders in the region have come together to lead this conversation globally and are not only calling for change but are taking the time to invest in the change that's needed, The Bahamas has done that with Partanna and we hope to show throughout the region at large that the region itself can be a leader, no matter how small we may appear to other developing nations. We're going to continue holding them accountable and we're going to continue to show them what action looks like and what change can be."

Aqualina ahead of schedule, 70 percent sold

Aqualina ahead of schedule, 70 percent sold

Thu, Mar 2nd 2023, 08:55 AM

The $100 million Cable Beach development Aqualina is two months ahead of its construction schedule and already 70 percent sold, a statement released yesterday by the project's developer Aristo Development explained.

According to the statement, the project is expected to be completed in the first quarter of 2024.

Aqualina is an 11-story, multimillion-dollar project that recently celebrated its topping off ceremony, marking the completion of the placement of the "last structural piece on the building before closing in with doors, windows, electrical, plumbing and interior work", the statement said. It added that the project has taken 18 months to get to this stage.

Aristo's President Jason Kinsale said in the release that his motivated team, excellent supervision and project management and good weather all came together to move the project along in a timely manner.

"The topping off ceremony was scheduled for early April and we had it in late February, so we could not be more pleased with how everything is going," said Kinsale.

Aristo Sales and Marketing Director Matthew Marco contended that The Bahamas remains appealing to high-net-worth individuals.

"When you combine what the country has to offer with what Aqualina has to offer, you have a winning combination," said Marco.

"We know that a luxury tower must contain more than just efficient floor plans and an innovative design, it must have a soul and provide a lifestyle and a level of service that is incomparable."

The statement added: "The impressive structure features 30 spacious residences, all three- and four-bedroom, ocean view condominiums with private elevators, floor to ceiling storm-rated glass for panoramic sunrises and sunset views of the ocean, infinity pool, fitness center, padel court, covered parking, 24/7 security, boat club membership and availability of nearby dining, golfing, tennis, shopping and entertainment at Baha Mar, a five-minute walk away.

Marco said this market is being targeted by people along the Eastern Seaboard of the US and from Canada, the UK and Europe. He explained that these people are not looking for a place to escape to, but a lifestyle that includes the benefit of permanent residency.

"Clients who had bought at One Cable Beach and knew the quality of construction and attention to detail in the finishes have turned around and bought multiple residences in Aqualina," Marco noted.

"That kind of confidence and cult following says a lot about a developer."

Aqualina's residences start at $3 million and increase in price to more than $6 million.

Aristo is also the developer of Hampton Ridge, Balmoral, Thirty-Six on Paradise Island, and One Cable Beach.